Voleon Capital Management LP Acquires Shares of 11,603 Lockheed Martin Co. (NYSE:LMT)

Voleon Capital Management LP acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,603 shares of the aerospace company’s stock, valued at approximately $5,638,000.

Other hedge funds also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $1,266,000. World Investment Advisors LLC increased its holdings in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after buying an additional 2,297 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Lockheed Martin by 11.0% during the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after buying an additional 5,075 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LMT. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Wednesday, April 23rd. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $544.79.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.14% of the stock is owned by company insiders.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $475.82 on Wednesday. The stock’s 50-day moving average is $457.45 and its two-hundred day moving average is $489.91. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a market cap of $111.48 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.